Each unit of local government is authorized to enter into agreements with the holders of its outstanding debts for the settlement, adjustment, funding, refunding, financing, or refinancing of the debt. Such an agreement may contain any provisions not inconsistent with law and before the unit may enter into it, it must be approved by the Commission.
N.C. Gen. Stat. § 159-73
Financing or refinancing agreements
Known as the The Local Government Bond Act
The act spans §§ 159–159 (39 sections).
1971, c. 780, s. 1.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.